County sees boost in businesses sold
Sonoma County is in the midst of business-buying boom, it the analysts at BizBen Index are correct.
According to BiBen, the 28 small and mid-sized business sold in Sonoma County in January represented a tremendous increase over the 10 transactions completed in the same month last year. (A small business sale is defined by the company as being under $2 million.) The county’s improved business sales statistic is counter to the statewide trend, which showed a minor decline to 1,179 completed deals last month, compared to the 1,223 transactions that closed in January 2012.
“While the boost in small business transfers in Sonoma County last month is encouraging, it also is a reminder that the small business for sale marketplace in California is subject to up and down swings,” said Peter Siegel, founder and president of BizBen.com, which brokers business sales and compiles the BizBen Index.
Of the 28 deals concluded in Sonoma County last month, 16 involved Santa Rosa businesses. Other active markets include Healdsburg with four sales, and Petaluma with three transactions. In the Valley, Kenwood saw three businesses change hands, according to BizBen.
Siegel said, the long-term picture for the California small business transfer market looks promising. “There is gradual growth in the number of businesses becoming available for sale as members of the large population of baby boomer business owners choose to retire,” he said. “And simultaneously, the demand curve is rising as more Californians become disenchanted with the chances of continuous and high paying employment. They’re deciding to purchase fast food franchises, auto repair shops, retail stores and other small companies so they can control their financial futures.”